Ukraine's hryvnia plunged 13 percent to a record low against the dollar as a government official said the weakening currency may trigger defaults on more than half of loans. The 44 percent slide in the hryvnia this year threatens repayments of loans and mortgages denominated in foreign currencies, Roman Zhukovskyi, head of the social and economic department in President Viktor Yushchenko's office, said in a televised press conference in Kiev. Ukraine's economy, which has expanded at an annual pace of 7 percent since 2000, will probably slow to 2 percent this year, central bank adviser Valeriy Lytvytskyi said. (Bloomberg)
Printing articles to share with others is a breach of our terms and conditions and copyright policy. Please use the sharing options on the left side of the article. Devex Pro members may share up to 10 articles per month using the Pro share tool ( ).
About the author
Devex Editor
Thanks a lot for your interest in Devex News. To share news and views, story ideas and press releases, please email editor@devex.com. We look forward to hearing from you.
